Regulatory and Legislative

Employee and Retiree Access to Justice Act Re-proposed

Representative Mark DeSaulnier (D-CA) has introduced HR 9820 – the Employee and Retiree Access to Justice Act. A Senate companion bill S. 5169 was introduced by Senator Tina Smith (D-MN). The bill would do the following.

  • Deem forced arbitration clauses, class action waivers, representative waivers, and discretionary clauses unenforceable with respect to ERISA and common law claims relating to benefits,
  • Prohibit the inclusion of such provisions in plan documents, and
  • Prohibit retaliations against individuals who decline to enter into forced arbitration agreements.

Regulatory and Legislative

IRS Provides 403(b) Amendment Cycle Updates

IRS Provides 403(b) Amendment Cycle Updates

The Internal Revenue Service has announced that it intends to begin issuing opinion letters regarding Cycle 2 pre-approved 403(b) plans, including the 2022 cumulative list of changes in those requirements.